# BP to take stake in Chinese PET producer CRC

BP signed a strategic cooperation agreement with China Resources Chemical Innovative Materials Holdings Ltd. (CRC) and agreed to invest in and become a shareholder of CRC. The companies will also explore collaboration on PTA sourcing and along the polyester value chain.

- Type: Acquisition
- Announced: 2020-05-08
- Where: China
- Status: announced
- Products: PET, PTA
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [BP](https://endata.com/companies/1131.md) (investor)
- [China Resources Chemical Innovative Materials Holdings Ltd.](https://endata.com/companies/47114.md) (target)

## Sources

- [echemi.com](https://www.echemi.com/cms/102663.html), 2020-05-08: "BP also agreed to invest in and become a shareholder of CRC."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.